GBPEUR 17 & 30 PIP Move - Beginner
Hey everyone!
My first ''Trading Idea'' here!
I'm relatively brand new to Forex Trading - recently I've started studying ''Smart Money'' - And I'd like to know your honest opinion.
I've found the Monthly, Weekly, Daily highs -->These are highlighted with the ''interrupted arrow line''.
From there, I've been looking for liquidity (where institutions are most likely going long/short) --> Orange box.
Since I'm a beginner, I have very large ranges of these liquidity levels (~100 PIPs). So, I need to work on that to get them to their true levels.
Regarding the trade itself,
I've highlighted two possibilities where I'll be taking profit (T/P N.1 & T/P N.2).
S/L (Stop Loss),
I have it under the ''spring'' (I believe you call it that way) of the recent lowest candle. I guess it's still high S/L. I don't know where exactly should I put it - so I don't get squeezed out.
Why I have entered the trade,
Based on the M15 & H4. Both ''charts'' showed a decent confirmation of the trend (at least to my eye). I'm ''expecting'' to reach my levels within 10 hours.
Any help, honest opinion is highly appreciated!
Thank you for your time!
Filipo
My first ''Trading Idea'' here!
I'm relatively brand new to Forex Trading - recently I've started studying ''Smart Money'' - And I'd like to know your honest opinion.
I've found the Monthly, Weekly, Daily highs -->These are highlighted with the ''interrupted arrow line''.
From there, I've been looking for liquidity (where institutions are most likely going long/short) --> Orange box.
Since I'm a beginner, I have very large ranges of these liquidity levels (~100 PIPs). So, I need to work on that to get them to their true levels.
Regarding the trade itself,
I've highlighted two possibilities where I'll be taking profit (T/P N.1 & T/P N.2).
S/L (Stop Loss),
I have it under the ''spring'' (I believe you call it that way) of the recent lowest candle. I guess it's still high S/L. I don't know where exactly should I put it - so I don't get squeezed out.
Why I have entered the trade,
Based on the M15 & H4. Both ''charts'' showed a decent confirmation of the trend (at least to my eye). I'm ''expecting'' to reach my levels within 10 hours.
Any help, honest opinion is highly appreciated!
Thank you for your time!
Filipo
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